The "Plastic Bank"
The environmental organization "The Plastic Bank" is fighting for a clean environment with capital market funds. It finances projects in developing countries, following the mission to collect plastic and clean the oceans - and guarantee local people a long-term paid job.
The environment is a matter of great importance to David Katz and Shaun Frankson. The Canadians have been actively involved in environmental protection for many years and are therefore appalled about the progressing contamination of our oceans with plastic waste and microplastics. For this reason, they founded the “Plastic Bank” in March 2013. They aim to save the world with the same means as the capital markets.
Money for work, not charity
The most important principle of the „Plastic Bank“ is that people get money for work and not charity. Collecting plastic waste, sorting and recycling it is an important and strenuous job, the two Canadians agree. And people should be well paid for doing this so that they can make a living from it. The plastic waste from the oceans should be the basis for livelihoods, particularly in the poorest countries of the world.
Since its foundation, the „Plastic Bank“ has launched projects in the course of which 6.25 million kilograms of plastic have been collected and the livelihood of more than 4,000 families secured as a result of these collection activities. The founding father, David Katz, comments as follows: „Collecting plastic from the oceans is one of the greatest opportunities offered to mankind to secure a liveable planet with possibilities for all sectors of society.“
Plastic-Project on Haiti
On Haiti, one of the poorest countries in the world, the „Plastic Bank“ has initiated one of its most important projects. Haiti has an enormous problem with plastic since they do not have a functioning public waste disposal system and so mixed waste ends up in the ocean. This threatens fish grounds which are a livelihood for the people of Haiti. At the same time, the mountains of plastic plastering the beaches are breeding grounds for pathogenic germs and mosquitoes, which spread these germs all over the island.
So the „Plastic Bank“ has made 3,500 Haitians recyclers. They collect and separate plastic waste and sell it at 20 local recycling markets for guaranteed prices. The single-origin raw material is sold to large drink manufacturers who in turn make drink bottles out of the raw materials collected. The owners of the recycling markets can earn up to 3,000 dollars a year after paying four employees and taxes. This represents a good income for Haitians. Employees of the „Plastic Bank“ check that the recycling is done correctly.
Donations ensure that the collectors and the recycling market operators have a guaranteed basic income which allows them and their families a more liveable and dignified life. All of the payment transactions are done via a Blockchain-App specially developed for mobile devices which all of the participants can access.
Following the successful start on Haiti, the „Plastic Bank“ now runs projects in the Philippines and in Indonesia.
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